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In a recent transaction, Mark D. Hogan, a director at BCB Bancorp Inc. (NASDAQ:BCBP), acquired 10,000 shares of the company’s common stock. The purchase, which took place on May 23, 2025, was executed at a price of $8.038 per share, totaling approximately $80,380. The timing is notable as the stock trades near its 52-week low of $7.92, having declined about 38% over the past six months.
Following this transaction, Hogan’s total direct and indirect holdings in BCB Bancorp have increased. He now owns 98,352 shares indirectly through an IRA, while his direct holdings amount to 611,140 shares. Additionally, Hogan holds 994 shares indirectly on behalf of each of his two children. The $138.5 million market cap company currently trades at 0.47 times book value and offers an 8% dividend yield, having maintained dividend payments for 20 consecutive years. InvestingPro subscribers can access 10 additional investment tips and detailed insider trading analysis for BCBP.
This acquisition reflects Hogan’s continued investment in the company, underscoring his confidence in BCB Bancorp’s prospects.
In other recent news, BCB Bancorp reported an $8.3 million net loss for the first quarter of 2025, a stark contrast to the $5.9 million net income from the same period last year. The loss was primarily due to a $13.7 million reserve for a loan in the cannabis sector, which was downgraded to non-accrual status. Despite the financial setback, BCB Bancorp declared a quarterly cash dividend of $0.16 per share. Keefe, Bruyette & Woods adjusted their price target for BCB Bancorp to $10.50, maintaining a Market Perform rating, following the earnings miss and increased credit costs. The firm revised their earnings estimates downward, citing the need for caution due to ongoing challenges with the Business Express segment. Additionally, BCB Bancorp issued 52 shares of Series K Noncumulative Perpetual Preferred Stock in a private placement, generating $520,000 in gross proceeds. This issuance is part of the company’s ongoing efforts to raise capital. The recent shareholder meeting saw the election of five directors and the ratification of the company’s independent auditor, indicating strong shareholder support for current management.
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